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Number of property buyers and sellers falling

Friday, 12 November 2010 3:18 PM

Britain's housing market declined slightly last month, with falls in the numbers of both buyers and sellers, according to industry experts.

The National Association of Estate Agents (NAEA) has revealed that the number of potential buyers decreased for a third consecutive month, dropping by 12 per cent - the lowest level since December 2008.

Meanwhile, the number of people deciding to sell up has fallen for the first time since June, leaving the nation's estate agents with an average of just 67 properties on their books in October.

Richard Copus, chairman of the NAEA's Devon branch, said: "Whether it picks up before the new year remains to be seen, but there is no logical reason why we should be entering the double-dip which some doom-mongers have been forecasting for a while."

The group has suggested that Britain's housing market is likely to slow down further in the run-up to Christmas, as people put their moving plans on hold until the spring.

This week's figures are the latest in a series of gloomy statistics on the UK's housing market, with other recent surveys having also shown a fall in demand.

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